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Weekly Closed-End Fund Roundup, February 14, 2020: Notes On BTZ, RQI And ASG



  • 20 out of 23 CEF sectors positive on price and 15 out of 23 sectors positive on NAV this week.
  • Real estate leads while emerging market income lags.
  • Notes on BTZ, RQI and ASG.
  • Looking for a helping hand in the market? Members of CEF/ETF Income Laboratory get exclusive ideas and guidance to navigate any climate. Get started today »

Author's note: This article was released to CEF/ETF Income Laboratory members on February 17th, 2020, and includes a rare reposting of the commentary that is normally exclusive to members only.

The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund (CEF) sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information has been sourced from CEFInsight or the Closed-End Fund Center. I will also link to some articles from Seeking Alpha that I have found for useful reading over the past week. The searchable tag for this feature is "cildoc". Data is taken from the close of Friday, February 14th, 2020.

Weekly performance roundup

20 out of 31 sectors were positive on price (same last week) and the average price return was +0.42% (up from +1.28% last week). The leading gainers were Real Estate (+2.23%), Asia Equity (+1.17%) and Commodities (+1.09%) while Emerging Market Income (-1.05%) lagged.

(Source: Stanford Chemist, CEFConnect)

15 out of 31 sectors were positive on NAV (down from 18 last week), while the average NAV return was +0.47% (down from +0.84% last week). The top sectors by NAV were Real Estate (+3.02%), U.S. Equity (+1.17%) and Sector Equity (+1.05%). The lowest sectors by NAV were Taxable Munis (-0.34%) followed by Multisector Income (-0.16%).

(Source: Stanford Chemist, CEFConnect)

The top 3 sectors by premium were Multisector Income (+6.55%), Preferred (+4.34%) and Emerging Market Income (+4.20%), while the sector with the highest discount is Asia Equity (-11.90%). The average sector discount is -2.34% (up from -2.27% last week).

(Source: Stanford Chemist, CEFConnect)

The sector with the highest premium/discount increase was Asia Equity (+0.71%), and Emerging Market Income (-1.02%) showed the largest premium/discount decline. The

Data by YCharts

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This article was written by

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Analyst’s Disclosure: I am/we are long THE STOCKS IN THE PREMIUM PORTFOLIOS. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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